https://www.taxtmi.com/caselaws?id=337823 The Appellate Tribunal ruled in favor of the assessee, holding that the penalty under section 271(1)(c) cannot be imposed solely based on a classification of income disagreement. The Tribunal emphasized the significance of disclosing all details and legal opinions, concluding that the penalty was unjustified in this case. The appeal filed by the AO was dismissed, affirming the decision to delete the penalty. en-us Wed, 11 Jan 2017 00:00:00 +0530 Wed, 18 Jan 2017 08:46:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337823 The Appellate Tribunal ruled in favor of the assessee, holding that the penalty under section 271(1)(c) cannot be imposed solely based on a classification of income disagreement. The Tribunal emphasized the significance of disclosing all details and legal opinions, concluding that the penalty was unjustified in this case. The appeal filed by the AO was dismissed, affirming the decision to delete the penalty. Case-Laws Income Tax Wed, 11 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337823